Yesterday the EURUSD rose significantly, but the GBPUSD went down. Today the GBPUSD is showing mixed sentiment, but the EURUSD is falling. From the data front, the manufacturing PMI in August will be published – first in the Eurozone, then in the UK and the US. Anyway, let’s move on to the analysis:
The EURUSD rose significantly yesterday. The price finished the session slightly below the R1 resistance level and 1.005. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below 1.000 and even reach the S1 support level. But if they do, the price might return above the Pivot Point and reach 1.005.
The GBPUSD went down yesterday. The price finished the session slightly above 1.161. Today it is showing mixed sentiment. If the buyers take control over the market, the price might even reach 1.166 today. But if the bears show their strength once again, the price could drop below 1.158.